The memorandum of understanding between Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations and National Bank of Tajikistan concerning banking supervision

of January 7, 2009

Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) and National Bank of Tajikistan, the Parties which are referred to as further,

for the purpose of the organization of interaction and exchange of information for topical issues of banking supervision and regulation, assistance to further development of supervising activities in the states of the Parties, taking into account the international principles and standards in this sphere,

expressing the readiness to cooperate with each other on the basis of mutual trust,

proceeding from importance of tasks on ensuring transparency of cross-border organizations,

agreed as follows.

Chapter 1. General provisions

Article 1. Basic concepts

1. For the purposes of this Memorandum:

1) banking supervision - the supervision of the financial organizations on the consolidated basis performed according to the national legal system of the state of the Party, assuming accounting of all risks to which the financial organization, persons, affiliirovanny with it, is exposed or can undergo, and directed to protection of legitimate interests of consumers of services of the financial organization, and also increase in its transparency by checks of the available cross-border organizations and exchange of supervising information between supervision bodies (further - the consolidated supervision);

2) the requesting supervision body - the supervision body sending inquiry for rendering assistance and receiving such assistance according to provisions of this Memorandum;

3) required supervision body - the supervision body receiving request about rendering assistance or rendering such assistance according to provisions of this Memorandum;

4) information - supervising information, information on public questions and other data which are of interest to the Parties within their cooperation according to this Memorandum;

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